MoneyGram Settles Shareholder Class Action Suit

By Sarah Pierce

MoneyGram International, Inc. has agreed to settle a class action lawsuit that alleges the payment services company violated federal securities laws and issued false or misleading statements to shareholders. If you held MoneyGram stock between January 24, 2007 and March 25, 2008, you may be eligible to claim part of the $80 million settlement.

According to the class action lawsuit, MoneyGram misrepresented and omitted the company’s financial condition and prospects, causing the price of MoneyGram stock to be artificially inflated during the class period. MoneyGram denies any wrongdoing but has agreed to settle. Shareholders who experienced a net loss of shares during this period could be able to claim up to an estimated $1.33 per share.

A fairness hearing will be held June 18, 2010. The deadline to file a claim is July 22, 2010. For more information and to download a claim form, visit www.mgisettlement.com.

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Updated April 9th, 2010

All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions

Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.